This sounds like control valve or linkage problems. If this is a 9N/2N, I suspect the "Tee" at the end of the control yoke has broken, or the spring that provides counterbalancing tension on the yoke has come loose, gotten weak, or broken. You could be lucky, and all that is wrong is that the spool valve is stuck. But the talk of the position control just flopping down to the bottom doesn't sound good. If you know how the thing works, you can pull off the right hand inspection cover, stick your left hand in the oil and find the spool valve, and move the position control with your right hand. You can tell whether or not the spool valve is moving as the yoke moves back and forth. It is almost certainly not moving. Try "helping" the linkage by pushing or pulling on the spool with your left hand, if you haven't already found broken parts. If you haven't been in there before, drain the fluid (save it if it isn't too nasty to reuse). Then take off the right hand cover, and repeat the above looking visually with a flashlight. The spool valve must move in and out of the pump body at least an inch as the position control is moved through its full range. The 8N control valving is different, but can suffer from somewhat similar problems.
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